The changes to the National Insurance threshold come into effect today
People across the country may see a boost in their pay packet, starting this month.This move follows on from the controversial 1.25 percentage point increase in April to help pay for health and social care. This rise also came alongside a string of other bill hikes, most noticeably the jump in the energy price gap.The UK Government has previously said this will benefit nearly 30 million working people with a typical employee saving over £330 in the year from July.
Alice Haine, personal finance analyst at investment platform Bestinvest, said a £330 saving:"Won’t stretch far when you realise that only equates to £27.50 a month. "All of this is set against a backdrop of falling real wages where runaway inflation is eroding any pay uplift workers receive, so any saving will quickly be swallowed up."Delve deeper in the NI figures, and the saving made in July on NI is actually not that great if you go back in time a little.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Huge tax cut from today set to save millions of people £330The level at which people start paying National Insurance is rising
Lire la suite »
Cost of living: 'Biggest tax cut in a decade' takes effect to help 30 million peopleThe threshold for paying National Insurance contributions rises to allow the average worker to keep £330 more of their earnings as the cost of everyday goods and services continue to shoot up.
Lire la suite »
Will you pay less tax? Online calculator reveals if you are better off after NI changesAn online National Insurance calculator has launched which estimates how much money you could save following the rise of the threshold.
Lire la suite »
Two million workers free from National InsuranceEmployees can now earn £12,570 a year before paying National Insurance tax, up from £9,880.
Lire la suite »
Exact amount you need to earn to be better off from major tax changes this yearMILLIONS of workers will see a change in their incomes from tomorrow following a change to National Insurance. The new rules will slash the amount of tax people pay giving them a much-needed to the…
Lire la suite »
Rihanna wore a feathered puffer jacket at first public outing since welcoming her baby boyRihanna wore a feathered puffer jacket at first public outing since welcoming her baby boy.
Lire la suite »